Medallion Financial Corp. Stock Price Up 4.7% on Strong Earnings (TAXI)
Medallion Financial Corp. (NASDAQ:TAXI) shares rose 4.7% during mid-day trading on Monday following a stronger than expected earnings report, StockRatingsNetwork.com reports. The stock traded as high as $11.70 and last traded at $11.68, with a volume of 160,792 shares. The stock had previously closed at $11.16.
The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.01.
Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Medallion Financial Corp. from $15.50 to $15.00 in a research note on Thursday, May 22nd. They now have a “market perform” rating on the stock.
The stock has a 50-day moving average of $11.7 and a 200-day moving average of $13.15. The company has a market cap of $290.2 million and a P/E ratio of 9.88.
Medallion Financial Corp. is a specialty finance company that is engaged in originating, acquiring, and servicing loans that finance taxicab medallions and various types of commercial businesses.
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